![]() The number of daily active users increased by 57 million compared to the same quarter in 2021. The company has significantly diversified its revenue streams during the third quarter of the 2022 fiscal year. Snap is anticipating this by diversifying its efforts to reach users, provide entertainment and give them an experience that keeps them returning to the Snap platform over others. Advertisers rely on getting active users to buy the products they're promoting, and if they sense they're more likely to get viewers on another platform, they won't hesitate to spend elsewhere. The realm of social media as a profit center for advertisers is in flux as consumers have more options for their attention than they do time to spend on them. Snap relies heavily on advertising revenue. Snap's current liabilities include accounts payable of $188.6 million, operating lease liabilities of $57.9 million and account expenses and other current liabilities of $893.4 million. Its assets include $1.91 billion in cash and cash equivalents, $2.51 billion in marketable securities, $992.7 million in accounts receivables and $115.9 million in prepaid expenses and other current assets. Its current total liabilities are $5.38 billion, and it reported an accumulated deficit of $9.42 billion. Snap reported total unaudited assets of $8.28 billion at the end of the third quarter of FY 2022. Some of the losses were driven by debt and equity securities at ($75.7 million), operating lease liabilities of ($12.1 million), purchases of property and equipment of ($37.8 million) and purchases of marketable securities at ($821.8 million). This is a sharp increase from a loss of $71.9 million in the third quarter of FY 2021 and a $510.5 million loss for the first 9 nine months of 2021. Snap reported an operating loss of $359.5 million and a total comprehensive loss of $372.9 million for the third quarter that ended on September 30, 2022, and a total loss of $1.14 billion for the 9 months ending on the same date. ![]() ![]() Snap stock has only continued to drop throughout the week, closing at $9.17 yesterday, down 80.32% YTD. While user growth occurs worldwide, Snap is seeing the most growth outside of North America and Europe. Snap had some positive news to share in the form of a 19% increase in daily active users (DAU) to 363 million, up from 306 million daily active users for the same quarter in 2021.
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